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11/07/2017

CEE Group acquires a further wind farm in Germany

The Hamburg private equity firm CEE continues to expand its wind power portfolio and has acquired a further German wind farm in Lüdersdorf, Brandenburg. The seller is the Danish company European Energy A/S.

The wind farm consists of two turbines (type Vestas V112). The hub height is 140 m, the rotor diameter is 112 m, and the wind farm’s overall capacity is 6.6 megawatts (MW). The turbines, which were commissioned in May, will deliver environmentally friendly power for about 5,000 households each year. CEE Operations, which manages the CEE Group’s power plant portfolio, is responsible for the commercial side. The seller of the wind farm is the project developer European Energy A/S, Copenhagen, from which CEE recently acquired a 27.6 megawatt wind farm in CEE in Brandenburg.

Detlef Schreiber, the CEE Group’s CEO says: “The acquired turbines will ideally complement CEE’s existing portfolio and underline our strategy of ongoing growth in the core German market. For our investors, this means that we will continue to generate regular stable income and attractive returns.” Felicitas Hauk, Investment Director and responsible for projects at CEE, emphasises: “We are very pleased with this follow-up transaction, which we have successfully implemented with European Energy after the Vormark project. A further project is also due to be completed shortly”.

Knud Erik Andersen, Managing Director and main shareholder of European Energy A/S, emphasises: “With the successful implementation of the follow-up project in Lüdersdorf, we once again demonstrated our expertise in Germany as one of our core markets. In addition, the project testifies to our expertise in repowering. We are pleased to collaborate with experienced partners such as the CEE Group and also see new opportunities to cooperation in the future.”

Following the acquisition of the Lüdersdorf wind farm, the CEE Group’s renewable energies portfolio has grown to some 592 MW. In 2017, CEE’s energy parks will probably produce around 930,000 megawatt hours (MWh) of power from renewable sources.